Journalist
Lee Hugh
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Young Poong to Review KZ Precision Shareholder Proposals, Plans to Put Legal Items to Vote Young Poong said Thursday it will closely review shareholder proposals submitted by KZ Precision, a related party of Korea Zinc Chairman Choi Yun-beom, ahead of its 75th annual general meeting and plans to place on the agenda any items that comply with relevant laws. The company said it has pursued its own governance reforms and shareholder-value measures, contrary to KZ Precision’s claims. It cited last year’s cancellation of 1,030,500 treasury shares, a 10-for-1 stock split aimed at lowering the entry barrier for small investors, and cash and stock dividends totaling 33.6 billion won. Young Poong also said it has reflected shareholder views in management, including appointing Jeon Young-jun as an outside director who serves on the audit committee after accepting a proposal from ordinary shareholders. Young Poong said it will maintain its shareholder-return stance this year. It plans to cancel all remaining 203,500 treasury shares in the first half, further reducing shares outstanding. The company said the move is intended to enhance shareholder value and reinforce its commitment to responsible management. It also said it will draw up a midterm roadmap for its dividend policy to improve predictability for shareholders and further refine its corporate value-up program. Young Poong said it will also accelerate governance-improvement efforts aimed at raising the corporate value of its key asset, Korea Zinc. The company said it believes Korea Zinc under Choi’s leadership continues to face concerns about potential damage to shareholder value, and it will do its utmost to normalize corporate value through sound governance and protect shareholder interests. Young Poong said it is working to strengthen competitiveness by restoring sales and improving profitability in its core smelting business, while continuing environmental investment to build an eco-friendly smelter. It said it will continue to focus on enhancing shareholder value based on responsible management and transparent decision-making. Separately, Young Poong said it filed a damages lawsuit on March 4 against KZ Precision and its Chairman Choi Chang-gyu and CEO Lee Han-seong, alleging they created the appearance of cross-shareholdings during a management control dispute at Korea Zinc and caused significant losses to Young Poong.* This article has been translated by AI. 2026-03-05 09:21:19 -
Kim Jong-un inspects missile tests from new destroyer SEOUL, March 5 (AJP) - North Korean leader Kim Jong-un has visited a shipyard in Nampo for a new destroyer and oversaw the test-firing of strategic cruise missiles from the vessel, state media reported on Thursday. According to the state-run Korean Central News Agency, Kim, accompanied by key military and party officials, conducted a two-day inspection of the 5,000-ton Choe Hyun on Tuesday and Wednesday to "observe its crew members' combat and political training and the shakedown to assess its operational capabilities." Overseeing the test launch of sea-to-surface strategic cruise missiles from the destroyer, Kim Jong-un said it was an "important core element in estimating the operational capabilities of the warship." Praising its sailors for "having achieved successes," Kim was also quoted as saying, "The tests of operational efficiency of the new-type destroyer, a new symbol of our state's sea defense capability, are going smoothly as planned." "Our Navy will have a powerful offensive capability, which is, in effect, a capability for defending ourselves," he added. Kim also inspected another destroyer under construction, which would become the third vessel of the same class as the Choe Hyon, expected to be completed by early October in time for the 81st anniversary of the founding of the country's key ruling organ, the Workers' Party of Korea. He also called for building more warships of the same class or larger each year under the country's new five-year plans, as part of efforts to strengthen its naval power. Launched in April last year, the multipurpose destroyer, named after Choe Hyon, a comrade of regime founder Kim Il-sung during his days as a partisan fighter, is believed to be capable of carrying nuclear weapons. 2026-03-05 09:18:02 -
Pianist Paik Kun-woo to Release New Schubert Album Marking 70 Years Since Debut Universal Music said Thursday that pianist Paik Kun-woo will release a new album, "Schubert," on the 26th. It is Paik’s first Schubert recording in 13 years, following his 2013 release "Schubert: Impromptus, Klavierstücke, Moments musicaux." The album is positioned as a personal milestone for Paik, who marks the 70th anniversary of his debut and his 80th birthday this year. Ahead of the release, "Schubert: Piano Sonata No. 13 in A major, D.664, first movement" will be issued as an advance track Thursday. The two-CD set features Schubert’s Piano Sonatas Nos. 13 and 14, along with late-period Sonatas Nos. 18 and 20, linking Schubert’s musical world with Paik’s own career arc. "This choice spans the beginning and end of my performing life," Paik said. "No. 13 (D.664) is one of the earliest piano sonatas I learned and a work I have always loved, and No. 20 (D.959) is a piece I left aside for a long time because I couldn’t find an answer." He said he recorded the works to revisit them "from where I have arrived now" and to move closer to the truth. Paik recalled that while he performed and recorded Schubert’s final sonata (D.960) when he was younger, he was unable to bring D.959 to the stage for many years. "The second movement felt like a fantasy beyond order, and the theme of the fourth movement went on endlessly through repetition," he said. "For years I tried to find an answer, but perhaps because I wanted it so badly, I couldn’t see it." He added that only recently did he realize that rather than trying to do something, he needed to try "not to do." "Letting the music sing on its own, and the confidence to endure that silence — this attitude, reached through serious and sincere inquiry, is the biggest difference between my Schubert 13 years ago and my Schubert now," he said. Paik was born in Seoul in 1946 and made his debut at age 10, performing Grieg’s Piano Concerto with the Navy Symphony Orchestra, now the Seoul Philharmonic Orchestra. At 15, he moved to the United States to continue his studies at the Juilliard School, and later performed across the United States and Europe. Paik now lives in Paris and is preparing a recital tour tied to the album release. Beginning in April, he will visit 12 cities nationwide. The final stop, in Seoul, is set for May 10 — his birthday — at the Seoul Arts Center Concert Hall. The program includes Schubert’s Sonatas Nos. 13 and 20 and Brahms’ Four Ballades, and he is also preparing to publish an autobiography.* This article has been translated by AI. 2026-03-05 09:15:22 -
KB Kookmin Bank, AIA Life Sign MOU to Expand Insurance Claim Rights Trust Services KB Kookmin Bank said March 5 that it signed a memorandum of understanding with AIA Life to promote insurance claim rights trusts and expand linked trust-and-insurance services. The signing ceremony was held March 4, attended by Yoo Shin-ok, head of AIA Life’s Customer Division, and Jeon Hyo-seong, deputy head of KB Kookmin Bank’s WM Customer Group, along with officials from both companies. An insurance claim rights trust allows a policyholder to place the right to claim death benefits into a trust while still alive and to design in advance how the proceeds will be managed and paid out after the insurer makes the payment. Unlike simply naming a beneficiary, the arrangement lets the policyholder set the purpose and payout method as needed. The companies said the agreement combines KB Kookmin Bank’s trust-based wealth management capabilities with AIA Life’s insurance expertise to support structured asset management and asset transfers. They said they plan to build a stable asset succession service reflecting customer demand, aimed at more predictable transfers. A KB Kookmin Bank official said the agreement creates conditions for customers’ insurance proceeds to be transferred more securely after death, adding that the bank will continue expanding financial services as a trusted wealth management partner. 2026-03-05 09:12:00 -
NH NongHyup Bank Partners With U.S. Real Estate Platform Koriny on Investment Advice NH NongHyup Bank said March 5 that it has signed a business agreement with Koriny, a U.S. real estate platform company, to cooperate on U.S. real estate investment advisory services. Under the agreement, the two sides plan to provide professional, reliable information to customers interested in investing in U.S. real estate and to identify a range of investment opportunities. Cooperation will include providing U.S. property listings and investment information, tailored advisory services for top clients, and seminars on U.S. real estate investing. The bank said seminars and advice based on local market information and investment trends will help customers build more systematic overseas real estate strategies. “This agreement is a strategic partnership to respond more precisely to customers’ global wealth-management needs,” Yoo said. “We will continue to expand differentiated investment advisory services, including global investments, and provide customers with a wider range of wealth-management solutions.” 2026-03-05 08:54:00 -
Air Premia to Increase Incheon-Narita Flights to 10 Weekly Starting March 29 Air Premia said Thursday it will add an afternoon service on its Incheon-to-Narita route, increasing frequency from seven flights a week to 10 starting March 29. The airline will also adjust its operating days. From March 29 to April 19, flights will operate on Mondays, Fridays and Sundays. From April 20 to 26, service will run on Mondays, Fridays and Saturdays. From April 27, the schedule will be fixed to Thursdays, Fridays and Saturdays. The flight will depart Incheon International Airport at 1:50 p.m. and arrive at Narita International Airport at 4:30 p.m. The return flight will leave Narita at 5:40 p.m. and arrive in Incheon at 8:25 p.m. Air Premia launched the Narita route in December 2022 with four weekly flights and has expanded service as demand grew: to five a week in 2023, six a week in 2025, and daily service in January 2026. With the latest increase, the route will operate 10 times a week. From its launch through the end of January this year, the airline operated 1,709 flights on the route and carried 513,412 passengers. The average load factor was 91.8%. To mark the expansion, Air Premia will offer a 10% discount promotion for the Narita route from March 5 to 12. The travel period runs from March 5 to Oct. 24. * This article has been translated by AI. 2026-03-05 08:45:16 -
Hana Financial Partners With Crypto.com on Won Stablecoin Use in South Korea Hana Financial Group said it is building an early partnership around a won-denominated stablecoin and expanding cooperation with global digital-asset firms as it seeks to lead the digital-asset ecosystem. The group said Hana Card is working with an affiliate of Circle, the issuer of the global stablecoin USDC, and with global digital-asset operator Crypto.com to promote payment marketing in South Korea, drawing on the group’s global network. Hana Card will run a cashback event for foreign customers who hold a Crypto.com Visa card and either hold USDC or have a record of topping up USDC. When they pay at participating merchants in South Korea, Hana Card will return 5% of the purchase amount in Crypto.com’s native token, Cronos (CRO). Hana Financial said the effort is aimed at giving foreign customers experience with digital-asset payments and identifying new payment demand centered on major domestic merchants. A Hana Financial official said, “This project is a process of confirming the potential use of stablecoin-based payments and broadening the scope of cooperation with global digital-asset operators.” The official added, “Hana Financial Group will continue to pursue various use cases that consider the entire process from distribution to use after stablecoins are institutionalized.” Separately, Hana Financial said it is also expanding ties with global digital-asset firms, including preparing licensing for digital-asset custody services at BitGo Korea, a joint venture it established with BitGo, a global digital-asset custodian listed on the New York Stock Exchange.* This article has been translated by AI. 2026-03-05 08:42:12 -
Oh Seung-hwan Says He Received About 1,000 Don of Gold as Rewards Oh Seung-hwan spoke about the gold he received as rewards during his baseball career. On MBC’s “Radio Star,” which aired on the 4th, Oh appeared with Lee Cheol-min, Jo Hyun-ah and Yang Sang-guk. Oh said the number 21 was meaningful to him, noting that he got married on the 21st by coincidence and played for 21 years. He said that when he retired, he received gifts tied to the number, including a 21-don gold padlock and a gold trophy. Oh added that when he set a record at age 47, he received a 470-don gold baseball, which he said is now worth more than 400 million won, compared with 30 million to 40 million won at the time. He also said he received a 400-don gold bar when he reached 400 saves. Asked by Yang how much gold he has in total, Oh said it was about 1,000 don, worth about 900 million won.* This article has been translated by AI. 2026-03-05 08:39:23 -
Korea's FX reserves rise in Feb on debt issue amid war-time volatility SEOUL, Mar 05 (AJP) - South Korea’s foreign exchange reserves increased for the first time in three months in February, helped by a $3 billion overseas debt issuance aimed at bolstering ammunition to stabilize the Korean won against major currencies. However, questions remain over how long the increase can be sustained, with the local currency hovering near crisis-era levels in the war aftermath. Foreign reserves rose $1.72 billion from the previous month to $427.67 billion as of end-February — the first increase since November — according to data released Thursday by the Bank of Korea (BOK). The BOK attributed the monthly rise to the successful issuance of foreign exchange stabilization bonds and subsequent investment gains from those funds. Earlier in the month, the central bank tapped global markets with a $3 billion bond issuance to strengthen its intervention capacity. The government issued the U.S. dollar-denominated bonds on Feb. 5, aiming to calm the exchange rate and respond to shifting market dynamics. FX reserves had been declining as authorities intervened to buttress the won, which weakened sharply against major currencies amid rapid capital outflows into U.S. securities. Korean financial authorities deployed a total of $4.7 billion — including $2.6 billion in December and $2.1 billion in January — primarily through a currency swap arrangement between the BOK and the National Pension Service. The currency’s average exchange rate in December consequently appreciated 2 percent to 1,434.9 won per dollar from November’s 1,464.8. It gained a further 0.6 percent in January to 1,427, aided by a broader softening of the U.S. dollar. Those gains were largely erased after the launch of U.S.-Israeli attacks on Iran last Friday and the widening conflict across the Middle East following Iran’s retaliatory strikes on neighboring countries. The dollar briefly surged to around 1,480 won as the KOSPI lost more than 20 percent in two sessions after the war broke out. It later eased to 1,463.50 won as of 8:00 a.m. Thursday amid a partial recovery in oil prices. Despite the volatility, South Korea’s standing in global FX reserve rankings remains largely intact. The country slipped to 10th place globally, losing its ninth-place position to Hong Kong. The shift was primarily driven by the Hong Kong Monetary Authority (HKMA), whose reserves rose $7.7 billion to $435.6 billion in January after realizing substantial gains from asset management operations. 2026-03-05 08:36:46 -
AI meets Realpolitik: How the U.S.–Anthropic rift turned a drone strike into a tech crisis SEOUL, March 05 (AJP) - In the latest contradiction from Washington, President Donald Trump last Friday ordered federal agencies to “immediately” stop using what he called the “radical-left” artificial intelligence systems developed by Anthropic, while the U.S. defense secretary labeled the company a risk to “national security.” Only hours later, the president authorized Operation Epic Fury. Within days, the very system Washington had just denounced proved instrumental in the operation — and in Operation Roaring Lion, the parallel Israeli campaign. The same AI platform that helped track and capture the Venezuelan president in February was again deployed to process intelligence and coordinate battlefield decisions. The paradox reveals how deeply generative AI has become embedded in modern warfare — and how dependent even the world’s most powerful military has grown on privately developed algorithms. The U.S. Central Command (CENTCOM), which oversees military operations across the Middle East, relied extensively on Anthropic’s Claude AI to process vast volumes of imaging and signal intelligence, identify potential targets, and simulate strike scenarios. The tool remained in active use even after Trump publicly ordered a government-wide phaseout of Anthropic software. The administration cited the company’s refusal to allow its models to be deployed in “all lawful scenarios,” including intelligence operations that could involve U.S. citizens or autonomous weapons. The Iran strike therefore ignited not only a new debate over AI ethics and civilian oversight but also an unexpected reshuffling of the global AI market. A clash of ethics and wartime pragmatism At the heart of the dispute lies a philosophical and contractual standoff between Anthropic — one of the United States’ leading AI research firms — and the Trump administration. Founded by former OpenAI engineers with a reputation for cautious, human-centered design, Anthropic has placed explicit limits on how its systems may be used. Its internal policies prohibit deployment in large-scale domestic surveillance, autonomous weapons, or operations lacking human oversight. Those guardrails collided directly with the Pentagon’s wartime requirements. In late January, defense officials argued that generative AI operating within classified networks must be unrestricted — usable for “all lawful purposes.” Anthropic’s refusal effectively froze the renewal of its defense contract. The White House responded by designating the company a “supply chain risk entity” and began shifting intelligence infrastructure toward competing models developed by OpenAI and Elon Musk’s xAI. Yet disentangling Claude from U.S. military systems is far from simple. For more than a year, the model had been integrated across critical elements of CENTCOM’s operational environment, from communications filtering to satellite imagery analysis. Its ability to transform raw surveillance data into actionable intelligence made it indispensable to analysts and commanders. Defense experts say replacing the system will take months — an eternity in conflicts defined by real-time decision-making and algorithmic speed. The battlefield paradox The February strike against Iran illustrated the contradiction with unusual clarity. Even as Trump publicly branded Anthropic a national security threat, CENTCOM units continued using Claude-enabled analytics to coordinate drone and mortar operations, identify high-value targets, and estimate potential civilian casualties before strikes. According to intelligence officials, no commercially available AI currently matches the system’s ability to adapt rapidly to dynamic battlefield data without creating internal network vulnerabilities. The episode exposes a deeper strategic dilemma. As militaries integrate generative AI into operational planning, the line between ethical constraint and strategic disadvantage becomes increasingly blurred. Anthropic’s position — that democratic societies should restrict AI use in surveillance and autonomous warfare — resonates with digital rights advocates. For defense planners, however, such restrictions risk slowing decision cycles in conflicts where milliseconds matter. The result is a distinctly twenty-first century paradox: moral restraint may now carry logistical costs. Silicon Valley solidarity The political fallout spread quickly through Silicon Valley. In the days following the Iran strikes, traffic to Anthropic’s Claude platform surged to record levels, briefly causing service outages, according to Bloomberg. The spike reflected growing demand among developers and businesses seeking what many describe as “ethically aligned AI.” OpenAI, whose models underpin several major U.S. government systems, found itself in the opposite position. Recent defense contracts — combined with reports that company executives donated to a pro-Trump political action committee — sparked a social media backlash dubbed the “QuitGPT” movement, as critics warned that AI leadership was becoming politically entangled. Meanwhile, Google’s Gemini platform seized the moment to close the competitive gap. Internal teams reportedly accelerated security certification processes for defense-related deployments, hoping to capture government contracts displaced by the Trump–Anthropic dispute. Industry analysts now describe an emerging “tripolar” race for AI dominance, where corporate ethics, geopolitical alignment, and national security priorities are increasingly intertwined. The confrontation also triggered an unusual display of solidarity across Silicon Valley. Hundreds of employees from Google, Anthropic, and even OpenAI signed an open letter titled “We Will Not Be Divided.” The statement condemned the Trump administration’s designation of Anthropic as a security risk and warned against “state interference in scientific research ecosystems.” Academics and civil society leaders echoed the concern, arguing that the dispute reflects a broader struggle over political control of technological innovation. The rhetoric recalled earlier moments in American tech history — the encryption wars of the 1990s, the Snowden revelations, and the pandemic-era battles over online speech. But the stakes are now significantly higher. Never before has a militarized AI system become a central geopolitical controversy while an active conflict was unfolding. Global ripple effects The repercussions are already spreading beyond the United States. European policymakers, wary of unregulated military AI, have cited the dispute as evidence supporting stricter oversight under the forthcoming EU AI Act. In Israel — a key participant in the Iran operation — defense officials have privately expressed concern about the reliability of U.S. technology partnerships. Chinese state media, meanwhile, portrayed the episode as proof of what it called “chaotic dependence” within American digital infrastructure. Financial markets have reflected the uncertainty. Venture capital has begun flowing toward smaller “responsible AI” startups in Canada and the United Kingdom, as investors bet that ethical compliance could become a competitive advantage. At the same time, U.S. defense technology firms such as Palantir and Anduril rallied on expectations that the Pentagon will accelerate investment in AI-driven battlefield systems. The end of the civilian–military divide The deeper shift, analysts say, is structural. Military strategy, software governance, and domestic politics are rapidly converging into a single ecosystem. AI systems that once belonged in academic laboratories now sit at the center of global power projection. Every algorithm carries geopolitical consequences. The Trump administration’s confrontation with Anthropic has forced the technology sector to confront a fundamental question: whether “civilian AI” can still exist separately from military applications. For decades, defense-funded research produced technologies that later became civilian infrastructure — the internet, GPS, and the neural networks underpinning today’s AI models. Generative AI, however, is different. Its adaptability and general-purpose nature make strict boundaries almost impossible to enforce. For companies like Anthropic, ethical safeguards are core to their identity. For governments operating in crisis, those limits increasingly appear impractical. The Iran operation exposed that divide in stark terms: a president eager to project power, a company defending its principles, and a military choosing performance over politics. That tension may define the next stage of the AI revolution. 2026-03-05 08:35:13